Global pet food market projects 6.5% CAGR through 2035

The global pet food market is positioned for significant expansion over the next decade, according to new industry analysis from Future Market Insights (FMI). The market, currently valued at US$132.4 billion in 2025, is projected to reach US$247.7 billion by 2035, representing a compound annual growth rate of 6.5%.

The analysis said conventional pet food products are expected to maintain market leadership, holding a 70% share in 2025, driven by affordability and distribution accessibility. Dog food continues to dominate the animal type category with over 60% market share. According to FMI, this reflects higher global dog ownership rates and demand for specialized canine nutrition.

Western Europe emerges as a key growth region, with the UK projected as the fastest-growing market at 6.8% CAGR from 2025 to 2035. The U.S. and Germany are expected to show growth rates of 6.2% and 6.4% respectively, while Japan projects 6.1% growth driven by small-breed and age-specific diet demand.

Future Market InsightsProduct categories and innovation

Kibble and dry food products lead the product type segment with 42.5% market share in 2025, attributed to cost-effectiveness, convenience and dental health benefits. Animal-derived ingredients, particularly chicken and fish proteins, are set to capture 22.7% of the source segment in 2025.

FMI's report noted major industry players including Mars Petcare Inc., Nestlé Purina PetCare, Hill's Pet Nutrition, Blue Buffalo (General Mills), and Cargill are investing in research and development focused on personalized nutrition, functional ingredients including probiotics and omega-3 fatty acids, and sustainable protein alternatives.

Recent industry developments

In February 2025, Pets at Home launched Chick Bites dog treats manufactured with lab-grown chicken meat by Meatly, representing advancement in sustainable protein sourcing. This follows Mars Petcare's acquisition of Champion Petfoods (ORIJEN and ACANA brands) in February 2023, which FMI indicated continued market consolidation around premium positioning.

FMI's report noted the premium and natural segments continue to show strong performance with 5% to 7% annual growth rates, as manufacturers develop products addressing specific life-stage, breed and health requirements including digestive health, joint support and immune function formulations.